This is the first time I've heard someone claim that a thing that came first is a rebrand of the thing that came second. I can only assume that this type of sentiment arises from the realization that, as I keep saying countless times over the years, CBDCs have never and will never be a thing. With the understanding that CBDCs will never be a threat (just like enterprise blockchain) the pendulum has now swung back to stablecoins.

Stablecoins have a multi-cycle history of survival.
They are more solid than actual banks.
They are not printed out of thin air or built atop of house of cards.
A bank could have 0%-20% reserves while a stablecoin has more like 80%-100%.
Even after all this time not a single major USD-collateralized stable-coin has failed.

https://x.com/i/grok/share/mktZAyI1wJPti15fyIPjrdfbR

Ask AI for a breakdown of failed stablecoins

It's actually shocking that every single one of these is an algo-coin.
Every single USD-collateralized coin continues on or gets gracefully wound down like BUSD.
So I would agree that while stablecoins are trash they are still outperforming expectations.

Properties of a CBDC:

• They are private; you cannot audit them.
• History (UTXOs) can be deleted on a whim and no one would even know.
• They can be printed out of thin air without any regulatory oversight.
• The rules can change at any time.

None of these mechanics apply to stablecoins.
These stablecoins are issued on decentralized networks that can't have their rules changed by the token issuer.
These networks are auditable, transparent, and traceable.

They don't get printed out of thin air because regulators are constantly up their ass making sure that doesn't happen. And if they did get printed out of thin air we'd know the second a bear market hit (which happens every 4 years) because they would fail immediately from the insane volatility that the banking sector does not have to deal with when dealing on a fractional reserve.

Well this is kind of a ridiculous rant so I'll just wrap it up and say obviously stablecoins are not ideal and it would be really nice if HBD could get more adoption. Apparently I get easily triggered by this topic because I've been making the claim that CBDCs are vaporware threats that do not exist. So seeing someone be like "yeah CBDCs haven't happened yet but here's the thing stablecoins are actually just CBDCs". Like no. Absolutely not.